Rolling Meadows, Ill.-based Arthur J. Gallagher & Co. announced the acquisition of Swiss insurance broker Verbag Versicherungsberatungs AG.
Terms of the transaction were not disclosed.
Based in Zug, Switzerland, Verbag offers commercial lines, employee benefits, accident & health and high-net-worth personal lines brokerage and consulting services, with revenues of approximately US$2 million. Thomas Renold and his associates will continue to operate from their current location under the direction of Tanja Jung, CEO of Hesse, a Swiss-based Gallagher subsidiary.
“With Gallagher having invested in creating a specialist insurance broking platform in Continental Europe, offering strengths in marine, construction, trade credit, liability and waste-to-energy risks, we are very pleased to expand our capabilities yet further with a quality business like Verbag,” said J. Patrick Gallagher Jr., chairman, president and CEO.
Source: Arthur J. Gallagher & Co.
Was this article valuable?
Here are more articles you may enjoy.
Chubb Wins Latest Battle With New York Diocese in Bid to Avoid Sex Abuse Claims 
FBI Says Chinese Hackers Preparing to Attack US Infrastructure 
Marsh McLennan Agency to Buy Fisher Brown Bottrell for About $316M 
Tiny Texas City Repels Russia-Tied Hackers Eyeing Water System 
